Are you looking to start a low-cost business? If yes you are in the right place. There are many enterprising and aspiring professionals who are looking forward to starting their own business. However, the inability to invest money restricts lot many individuals from venturing into business.
However, it is a complete myth that you need to invest a big amount to start a small business. Here are some tips to start a profitable low-cost business:
- Concentrate on service-based businesses rather than manufacturing products. Startup cost to start a service business is generally low
- Check your skillsets and accordingly select the business idea.
- Do some research on the demand aspect of your chosen business both online and offline.
List of 25 Low-Cost Business Ideas
Find below a list of 25 profitable low-cost business opportunities:
#1. Start a Blog
Running a blog is arguably the most simple and legitimate way of earning online. You will find millions of tutorials on starting and growing a blog. The fascinating part is that you can run a blog right from your home or anywhere at a nominal cost.
Learn More: How to Start a Blog & Make Money
#2. Online Surveys
Interested to earn money without any investment? Finishing small online survey jobs is then perfect for you. You don’t need any skills to do these jobs. Survey sites will provide you with a set of questionnaires and will ask you to share your thoughts and opinions on varied subjects.
People who love spending time with children can start a babysitting business. Babysitting is simply taking care of other’s children in the absence of their parents. This business can be started with very low investment.
#4. Freelance Writing
A person who is good with words and loves to create articles can start a freelance writing business. There are various publications offline and online that need quality and informative content regularly. You can also write for corporate clients to create their marketing tools about their products and services.
#5. Wedding Consulting
A wedding consulting business comes naturally to a person who is organized, focuses on details, and loves to coordinate events. Your creativity can make others’ wedding days memorable for a lifetime. You can start this low-cost business with low startup capital with the help of online promotion.
Learn More: How to Start Wedding Consulting Business
#6. Jewelry Making
A person who is crazy about jewelry and passionate to handle crafts materials like beads, charms, etc. can start a jewelry-making business. Having some training in jewelry making is essential in starting this home-based business with a small investment. You can start selling in your local community, gift stores, or on an online site like Etsy.
Learn More: How to Start Jewelry Making Business
#7. Virtual Assistant
Virtual assistant business is all about providing services like checking and answering emails, organizing to-do lists, updating calendars and schedules with minimal interaction with your clients. One can start this home-based business with a computer with an internet connection and phone.
#8. Slideshow Making
A person having a creative mind and passion to work with photography can start slideshow making business by using some specific software.
With the creative application, you can easily turn simple photographs into a memorable and presentable slideshow for your client. You can start this low-cost business only by having a computer with some specific software and internet connection.
#9. Senior Caring
Many aged people require assistance to perform their day-to-day household activities like cleaning, washing; laundry, etc., one can start this home-based business locally with a minimum or meager investment.
#10. Web Designing
Nowadays, every small and big business requires a website to promote their products or services. A person who has some basic knowledge of HTML coding and graphics designing can provide web design services to clients with extremely low investments.
You can start a web designing business with just a computer with an internet connection.
#11. Freelance Bookkeeping
Every small or big company needs business accounting services like bank reconciliation, e-filling, service tax, sales tax, payroll, etc. One can start a bookkeeping business by giving these services freelance to the businesses that can’t afford to have a permanent accountant. Furthermore, this business requires not to have much money to start.
Learn More: How To Start A Bookkeeping Business
#12. Resume Writing
Resume writing service is another low-cost business for beginners. A person having a fair amount of ideas about resume writing can start a resume writing business by crafting a resume for job seekers.
However, you need to be good enough about editing, structuring, and proofreading. For starting this business you will just need to have a computer with some basic software.
Learn More: How To Start Resume Writing Service Business
#13. Aquarium Maintenance
Fish are beautiful and popular pets. A person having a pet-loving attitude can start an aquarium maintenance business by providing a cleaning service to aquarium owners who don’t have time to clean the tank.
A clean aquarium is required for healthy fish and it is recommended after every 10 days the tank should get cleaned. You can initiate this venture with little money.
Learn More: How to Start Aquarium Maintenance Business
#14. Start a Photography Business
A professional photographer or a person passionate about photography can start a photography business investing little money. Other than providing photography services to local clients, one can also make money by uploading pictures to photo selling sites.
Learn More: How to Start A Profitable Photography Business
#15. Staffing Agency
Every small and big business needs to hire manpower. You can provide services like temporary and permanent staffing for client companies. One can start this low-cost staffing agency business by only having a computer with an internet connection and phone.
Learn More: Starting A Staffing Agency Business
#16. Affiliate Marketing
Affiliate marketing is one of the most profitable low-cost business ideas that can be started from the comfort of home. To become a successful affiliate marketer, one must have a blog in the present day.
You need to promote the products of other companies through links provided by the company. For every sale initiated by a link from your site, you will earn a percentage of the sales commission.
Learn More: How to Start Affiliate Marketing Business
#17. Social Media Consulting
Almost every people use Facebook, Twitter, LinkedIn, Pinterest these days, and many companies are ready to pay people to get the service of their social media accounts management. A person having the ability and skill can start a social media consulting business at home.
Learn More: How To Be A Freelance Social Media Marketer
A person who wants to start a home-based business in the education segment and has the patience to handle children can start tutoring. Every parent these days always is looking for a good tutor for their child. You can start a tutoring business with practically no capital investment.
Learn More: How to Start a Successful Tutoring Business
#19. Fitness Instructor
The people, who don’t want to go to the gym, want a personal fitness instructor at their doorstep. Also, you can join a local gym and fitness center to provide the service. You will only need to have special expertise in the subject thoroughly.
#20. Soap Making
A craft passionate person can start a low-cost soap-making business with comparatively low capital investment. You can start decorative specialty soap making and start selling to your local community or in gift stores.
Learn More: How to Start A Soap Making Business
#21. SEO Consulting
SEO (Search engine optimization) is a process to get the website ranking higher in search engines like Google, Yahoo, and Bing. Every day there are thousands of websites, that are created and the maximum fails to survive because of the lack of knowledge about internet marketing.
If you have the skills, you can start this low-cost business that requires only a computer with an internet connection.
Learn More: How to Start SEO Consulting Business
#22. Candy Making
Candy-making business is a fantastic way to turn your hobby and skill into a profitable low-cost business. You can start with some basic equipment and raw material and start selling locally.
Learn More: How to Start Candy or Chocolate Making Business
#23. Candle Making
One can start a candle-making business with a low capital investment. The creative, decorative, scented candle industry is growing day by day. You can have an online tutorial to gain expertise and gather raw material from the local market.
Learn More: How to Start A Profitable Candle Making Business
#24. Digital Marketing Service
People having marketing experience can start a small digital marketing agency business with low costs. It is advised initially to find a specific niche in the digital marketing industry and concentrate on that. When money starts coming in, consider scaling it up and providing extra services.
The translation is fast becoming a highly potential web-based business. With ever-increasing net connectivity and globalization, knowing and understanding other languages have become extremely vital in keeping pace with the speed of society.
In the United States, the demand for translators has grown hugely in recent years. The primary reason for it is the influx of a good number of non-English speaking people settling in the country. The Bureau of Labor Statistics predicts a growth of around 20% by the year 2028.
Learn More: How to Start a Translation Agency Business
In conclusion, if you have the will and passion to be successful in making a fortune of your own, there are many low-cost business ideas and opportunities that one can start based on local demand and personal skillsets. Furthermore, it can be scaled up in the future when you make substantial profits.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their business. Our aim is to educate the entrepreneur on the various stages of entrepreneurship.